Press Release - Risk and Assurance To Discuss Annual Report

The Grey District Council Risk and Assurance Committee discussed the Draft 2022 Annual report.

The report measures Council’s performance against Year one of its Long Term Plan and highlights a profit of $11.059M. The profit is largely due to additional subsidies received from the Government to undertake specific projects. These include the replacement of three bridges and various water supply upgrades.

In addition, Council’s 3 Waters assets, roading and land, and building assets increased in value by $74M.

“Every year we look at the cost to replace our assets and if that cost has moved significantly we have to recognise that increase” Mayor Tania Gibson said

This year’s increase has been driven by the post Covid economic climate. It has been an unusual year with the economic situation driving up values along with the funding for Shovel Ready Projects” she said.

Council will consider recommendations from the Risk and Assurance Committee at its meeting on Monday 19th December to formally adopt the 2022 Annual Report.

ENDS

Website: www.greydc.govt.nz/

Facebook: https://www.facebook.com/GreyDC

Contact: Megan Bourke

Grey District Council

Phone 03 769 8600